Barclays PLC raised its stake in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) by 62.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 109,553 shares of the financial services provider's stock after buying an additional 42,218 shares during the period. Barclays PLC owned about 0.25% of Horizon Bancorp worth $1,704,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Quarry LP raised its position in Horizon Bancorp by 508.1% during the third quarter. Quarry LP now owns 2,098 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 1,753 shares in the last quarter. CWM LLC increased its holdings in shares of Horizon Bancorp by 114.2% during the 3rd quarter. CWM LLC now owns 6,958 shares of the financial services provider's stock valued at $108,000 after purchasing an additional 3,709 shares in the last quarter. Pathway Financial Advisers LLC lifted its stake in shares of Horizon Bancorp by 44.1% in the 2nd quarter. Pathway Financial Advisers LLC now owns 8,956 shares of the financial services provider's stock valued at $111,000 after purchasing an additional 2,740 shares during the period. Centiva Capital LP acquired a new position in shares of Horizon Bancorp in the 3rd quarter valued at $163,000. Finally, Mackenzie Financial Corp purchased a new stake in Horizon Bancorp during the second quarter worth $133,000. Institutional investors and hedge funds own 64.51% of the company's stock.
Horizon Bancorp Price Performance
HBNC traded down $0.60 during midday trading on Friday, hitting $15.00. 177,699 shares of the company traded hands, compared to its average volume of 155,350. The company has a market capitalization of $655.73 million, a price-to-earnings ratio of 31.92 and a beta of 1.08. The business has a 50 day simple moving average of $17.28 and a two-hundred day simple moving average of $15.78. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.83. Horizon Bancorp, Inc. has a 52-week low of $11.18 and a 52-week high of $19.18.
Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.04. The firm had revenue of $102.40 million for the quarter, compared to analyst estimates of $58.23 million. Horizon Bancorp had a return on equity of 8.27% and a net margin of 5.89%. During the same period in the previous year, the company posted $0.37 earnings per share. On average, equities analysts forecast that Horizon Bancorp, Inc. will post 1.4 earnings per share for the current fiscal year.
Horizon Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be given a $0.16 dividend. The ex-dividend date is Friday, January 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.27%. Horizon Bancorp's dividend payout ratio (DPR) is presently 136.17%.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on HBNC shares. Hovde Group began coverage on shares of Horizon Bancorp in a research report on Monday, September 30th. They issued an "outperform" rating and a $18.00 price objective for the company. Keefe, Bruyette & Woods lifted their price target on Horizon Bancorp from $17.00 to $19.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Finally, StockNews.com upgraded Horizon Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, November 1st.
Check Out Our Latest Research Report on Horizon Bancorp
Horizon Bancorp Profile
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Free Report)
Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that engages in the provision of commercial and retail banking services. The company offers checking, saving, money market, certificate of deposits, individual retirement accounts, and time deposits, as well as non-interest- and interest-bearing demand deposits.
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